TOP CORPORATE NEWS - 28 JUN 2016

Exide Industries plans Rs1400 cr capex for technology

Exide Industries plans Rs1400 cr capex for technology upgradation and capacity expansion

Exide Industries is planning to spend over Rs1,400 crore for the next one year on capital expenditure for technology up-gradation and capacity expansion. A significant amount of this capex will be incurred at its Haldia facility in West Bengal.

RPG Life Sciences enters into cosmetology

Drug firm RPG Life Sciences said that it has entered into the cosmetic segment by collaborating with an Italian cosmetic firm Labo Cosprophar and will launch two products for hair and skin care.

The company is in-licensing two research-based products to be launched in the Indian cosmetic market this July.

A separate division has been created to market Crescina and Fillerina, products specialised in hair fall control and anti-ageing, respectively.

Bharti Infra proposes buyback of shares from July 12

Bharti Infratel rose nearly 4%, touching to Rs340.5, after company announced that it has proposed buyback of equity shares would commence on July 12, 2016 and close on July 25, 2016.

The company's proposed buyback of 4.70 crore shares at Rs425 per share under tender offer route would commence on July 12, 2016 and close on July 25, 2016

Government proposes 15 logistics parks at Rs33,000 cr

To reduce transportation cost and minimise pollution, the government plans to set up 15 logistics park (covering more than 40% of the total road freight movement in India) in cities with high freight movement at an investment of about Rs33,000 crore.

A total of 4,800 acres is needed for the development of the proposed 15 multimodal logistics parks, including land for storage space, allied infrastructure, trunk infrastructure and land for future expansion. A total cost of Rs10,700 crore will be needed for land acquisition.

Bajaj Finserv likely to buy out Allianz’s stake in insurance JV

As per reports, Bajaj Finserv could buy 26% stake held by its joint venture partner Allianz [in both Life and General Insurance ventures;  Bajaj Allianz Life Insurance (BAL) and Bajaj Allianz General Insurance (BAGIF)] in a deal estimated at as much as Rs.10,000 crore. Bajaj Finserv Ltd, owns 74% and Allianz SE holds 26% in both the ventures.

                                

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